The worst that can happen to any nation is when their government continously lies to them…
The hub of all the suffering currently noticed in Nigeria today is due to the singular pronouncement of Tinubu “SUBSIDY IS GONE”……
Painfully so, some Nigerians trusted them and believed him and 9 months down the line…. It’s very obvious that subsidy never left after all…
Rufai Oseni wrote below :
“Nigeria’s petrol subsidy has returned and is now bigger than the amount being paid before Bola Tinubu stopped the costly practice last May.
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BusinessDay’s analysis has revealed that the country is paying about N907.5 billion subsidy on premium motor spirit (PMS) popularly known as petrol monthly as the country’s foreign exchange crisis pushed the actual cost of litre of fuel to N1,203.
One week before the 2023 presidential election which brought in the new administration, Mele Kyari, the Group CEO of the Nigerian National Petroleum Company (NNPC) Limited, said at the final cutover ceremony of NNPC and the birth of NNPCL at the corporation’s towers in Abuja, that the country is spending over N400 billion monthly on petrol subsidy.
Recent investigations into Nigeria’s petrol pricing dynamics have revealed a significant surge in the landing cost of petrol, attributed to the escalating black-market exchange rate.
According to findings, at the prevailing black-market rate of N1,500 per dollar, the landing cost of petrol has soared to N1,009 per litre, marking a substantial increase from N720 per litre recorded in October 2023.
Such a Country…….
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